NewsFlashAsian producer slashes HDPE by $120/t

14 August 2008 04:41  [Source: ICIS news]

SINGAPORE (ICIS news)--An Asian maker has slashed its film grade high density polyethylene (HDPE) for China by $120/tonne amid lean demand and bearish sentiment caused by falling crude values, the producer said on Thursday.

“We sold a few hundred tonnes at $1,750/tonne CFR (cost and freight) China for August shipment,” the producer said. This is around $120/tonne lower from its previous sales to China.

The lower-priced deals were significant as many Asian and Middle East producers had declined to reduce their August offers below $1,800/tonne in the past two weeks despite weak demand, regional traders said.

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By: Chow Bee Lin
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